THE FIAT GROUP IN

EJ200 engines for the Eurofighter aircraft.
RESULTS FOR THE YEAR
In 2001, the Sector had revenues of 1,636 million euros,
or 9.7% more than in the previous year, thanks to increased
orders from commercial and government customers.
Operating income grew to 186 million euros (11.4% of
revenues), compared with 143 million euros (9.6% of
revenues) in 2000, due in part to a favorable dollar/euro
exchange rate and the positive impact of programs
implemented to improve efficiency and reduce operating
costs. Depreciation and amortization totaled 89 million euros
Revenues by business unit
3%
15%
9%
20%
52%
Aviation
Government Programs
Engine Overhaul
Space
Others
The Cartesio Plus Program is providing fresh momentum to
FiatAvio’s effort to find increasingly sophisticated technological
solutions at every phase of the product cycle. The objectives of
this program are incremental improvements in the performance
of the Sector’s operations (through the Sigma 6 method) and
the reengineering of its main corporate processes.
(90 million euros in 2000). Research and development
expenditures increased to 132 million euros, up from 104
million euros in 2000.
Net income rose to 425 million euros, compared with 83
million euros in 2000. This increase reflects an improvement
in operating income and a gain of 328 million euros from the
transfer of Fiat Energia to Italenergia in July 2001 in exchange
for a 20.96% interest in Italenergia.
The growth in earnings produced an increase in cash flow,
which grew to 514 million euros (173 million euros in 2000).
FiatAvio worldwide
Rest Rest of
Italy of Europe the world Total
Production facilities 9 – 2 11
R&D centers 8 1 – 9
Report on Operations – FiatAvio
63